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bell" from the world economic forum in davos, switzerland. here is maria bartiromo. >> reporter: coming up from davos switz wits, at the world economic forum the reaction from france. i will sit down with the french finance minister to get her thoughts on president obama's plans for the banking sector. i'll also talk with stephen schwarzman, the ceo of the blackstone group, to find out how private equity's doing now and where he's finding investment opportunities. here's a hint, we'll talk india. it's all coming up on "closing bell." back to you. >> sounds great, maria. i'm michelle caruso-cabrera here at cnbc headquarters. wall street wrapping up on a downmote. s&p 500 down for the month mark the third straight january for the index. the last time we saw was between 1968 and 1970. you remember those days? we're going to see a down year based on the so-called january barometer. are we? we're going to explore that a little bit later on in the show. first, though, here's a look at how we finished the day on wall street. the industrials are lower by 56 points, 10063. a decline of about hal
>>> welcome to the show. the headlines today, we are looking ahead to davos. we're bringing you all the big hits from out in switzerland. >> here in the u.s., president obama says despite the hardship, the state of the union and the u.s. is strong and he's making job creation priority number one. >> and here in asia, markets rebound with the nikkei snapping a four-day losing streak boosted by strong earnings reports. >> welcome to the show. thanks for watching us on "worldwide exchange." let me tell you who i've got here in london, who will be gauging what's going on in davos to bring us some reaction. bob parker is with us and we'll be here, in fact, for the whole show. two hours i believe we've got you for. >> yes. >> thank you for coming along from credit suisse, senior adviser. >> correct. >> we will be getting on to some of the big guests later on in the show and getting a reaction from bob, of course. but in the meantime, let me tell you what's going on in the markets globally. here in europe, it's just past 9:00 in london, just past 10:00 in the rest of the continent. europea
from davos, switzerland. >> good morning, everybody. the biggest names in government and in business are all gathering here today. they're going to be talking about everything from regulation to what's been happening in the markets so even the future of the financial system. it's all coming up today and "squawk box" begins right now. >> this is a special presentation of "squawk box," with joe kernen and becky quick reporting live from the world economic forum in davos, switzerland. >> good morning. welcome to "squawk box." a virtual who's who in the world of business joining becky in davos today. the lineup -- you look marvelous. you look beautiful with that back drop. did you bring a makeup crew with you? >> this is a back drop. no, no, no. i did my own. >> really? >> i did my own today, i'm roughing pipt. >> i'm going to less you rite try mine when you get back. you've definitely got to work on mike holland. he's here in the states. why does she look okay? you had the whole staff working on you and you still come in -- >> because you were blowing your own hair. >> let's get a run d
>>> the headlines from around the globe, here in davos, jean claude trichet says we have challenges ahead with deficit. >> and here in asia, markets head for the biggest monthly drop in almost a year as techs and resources stocks weigh. and i'm mike huckman in the united states. the economy likely grew at the fastest pace in four years in the fourth quarter, but experts say don't start celebrating just yet. >> hello and welcome to today's program. i'm once again here at the annual meeting of the world economic forum in davos. maria will be joining us shortly, as well. we have a great guest list for you today. we'll be joined we the chief executive of bank of america, brian moynihan. we'll talk to christine lagarde, the french finance minister. we'll be joined by lord mannedelson, amongst a whole host of other guests. we'll be joined by the ceo of china mobile. but before all of that, there's plenty we need to bring you to. christine, over to you. >> hey, ross, good to see you in davos. let's do a quick view where asian markets are trading today. we have earnings in the u.s. are fail
advanced gdp. plus, becky wrapping up the week in davos. didn't you get yourself a pair of sunglasses yet, becky? what's going on? >> no. no sunglasses yet, but we are wrapping things up. this has been a virtual who's who in the world of business over the last few days. today's headliner includes house financial services chairman barney frank and tom donahue. you might image there will be fireworks between the comments from these two outspoken men. "squawk box" begins right now. >> this is a special presentation of southbound b with joe kernen, carl quintanilla and becky quick reporting live from the world economic forum in davos, switzerland. in. >> good iday morning. i'm carl quintanilla. we'll hear a lot more from beck including her conversation with barney frank. first, it is official, the u.s. senate voting to confirm ben bernanke's nomination to a second four-year term as federal reserve chairman. the final count, as we were saying earlier, joe, what a lot of people were predicting, 70 to 30, the closest ever for a fed chairman vote since the senate has been voting on these kinds of
-off. and then later we're heading to the world economic forum to davos, switzerland for maria's interview with european central bank president jean-claude trichet. >>> you're watching a special edition of the "closing bell" from the world economic forum in davos, switzerland, here is maria bartiromo. >>> day two of the world economic forum in davos, switzerland. the theme of this conference, rethink, redesign and rebuild. and no doubt, that has everything to do with debt around the world. one of the major issues here, the debt load that greece is facing. many people wonder if the implications will spread to the euro zone. i sat down with the prime minister of greece, that interview coming up. >>> also coming up my interview with jean-claude trichet the president of the european central bank. he believes any proposals in the banking sector must be standardized for the globe, not just in the u.s. we talked about that as well as asset bubbles and how the economy is faring right now throughout europe. it's all coming up from davos. back to you. >> thank you, maria. we're going to go back to h
journal report." i'm maria bartiromo. today coming to you from snowy davos, switzerland where the economic leaders are gathering. i'll be talking with kenneth rogoff and laura tyson. where is innovation coming from now and the state of the global economy. and one on one with legendary investor george soros, where he's putting his money now. former u.n. secretary-general kofi annan on the program. the "wall street journal report" begins right now. >> this is america's number one financial news program, the "wall street journal report." now, maria bartiromo. >>> as we head into a new week on wall street. the economy in america showed strong growth at the end of last year. the gross domestic product soaring in the fourth quarter. higher than what economists were looking for and strongest growth in six years. the gdp is the broadest overall measure of the u.s. economy. after much drama and controversy, ben bernanke was reconfirmed by the senate. bernanke faced criticism from those who said the fed ignored the housing bubble and praise from those who said he helped prevent a depression. the sta
a special edition of the "closing bell" from the world's economic forum in davos, switzerland, here is maria bartiromo. >>> day one at the world economic forum it is nighttime here in davos, switzerland. the main themes today included the global economy, number one, china. how fast is it growing? a number of players told me the chinese currency will go higher. and the chinese am likely make adjustments in the coming year. number two the euro zone. people are worried about greece and the debt issue there. but they do believe that the country will manage to get out of it and will not impact germany and the rest of that europe, all of that negatively. more on that. and finally the banking proposals out of obama administration. a number of major players in the banking industry told me, they have benefited from the pressures on u.s. banks. more of that coming up on the "closing bell." melissa, back to you. >> looking forward to it, thanks, maria. i'm melissa francis here at cnbc headquarters. the markets finishing the day mostly higher on what has been an extremely busy day on the news front. we'
change his mind? and lessons from the meltdown. the world economic forum opens in davos and calls for fundamental rethinking of capitalism, no less. hello to you. could the afghan president's plan to offer talks and money to peace with the taliban undermine the environment with the afghan people? homage karzai has been defending himself from the accusation. -- homage karzai. britain's prime minister answered questions from afghan and british students and defended his deployment of british troops. our world from paris -- our world affairs correspondent was there. >> president karzai arrives in london knowing he has repair work to do on his own reputation and that of his government. last ye's afghan elections were widely seen as flawed by widespread corruption. at the same time, more troops than ever were being killed or injured in the war against the taliban. was it, one student asked, worth the price being paid? >> british soldiers have been fighting in afghanistan for nine years. practically half my life. have we seen any change in the situation over there? will we get better? or
gets under way in davos. talks are under way on how to sustain a fragile recovery. >> it is 7:00 game in washington, midday in london, an5:30 p.m. in colombo. mahinda rajapaksa has been declared president for a second term. he won 58% of the bowed to his former army chief sarath fonseka's 40%. in the last hour, mr. sarath fonseka has said he will now start legal proceedings to have the results of an old. the presence of troops outside his hotel, the general says, will not allow him to leave. >> celebrations by supporters of president mahinda rajapaksa on the streets of colombo with the election commission declaring him back in office for a second term. this has been challenged by his rival. one of the supporters of the president made it clear why he got his vote. >> sri lanka had six presidents, but mahinda rajapaksa is the only president who stood up to the world community. a very different scene at the hotel where sarath fonseka was staying with other opposition leaders. as the boats were still being counted, troops surrounded the hotel -- as the votes were still being counted, troo
with pandit over at citigroup in davos. maria did the interview and he said at the end of the interview on a near-term basis there are credit concerns but profitability is really not a concern on a long-term basis. you're pos citigroup? >> i thought it -- and it has held what is known as the print price where they did the giant secondary. citigroup does not have a lot of mortgage exposure other than its -- that it's in the citi's holding unit. i would tell you that citi is going to be 60% international, 40% domestic within that time frame of longer 2011-2012 and that's what every bank in america wants to be in. they're the only one. >> jim, good to see you again. >> good to see you, partner. >> thank you very much. watch the show 6:00 and 11:00 eastern tonight. that's it for "street signs." thank you very much for watching. "closing bell" begins in just a moment with an all-star cast from here, davos, and indeed cnbc's global headquarters. from this team thank you for watching. stay tuned for the big one. >>> history or hype? is the month of january really a good predictor of stock mark
from davos against this morning. beck. >> that is right, joe. everything from president obama's state of the union address through the corporate headlines. the biggest names in business and politics, we're watching it all from here and we're commenting throughout the day. "squawk box" begins right now. >> this is a special presentation of "squawk box" with joe kernen, becky quick reporting live from davos, switzerland, and carl quintanilla on capitol hill. >> good morning and welcome to "squawk box" here on cnbc back at world headquarters. it's good to be back. squawk is spanning the world today. but there's one topic on the tip of everybody's tongue and that is the president's state of the union address last night. so we have carl down in the beltway. you've been down there for a couple of days, "q." are you comfortable? and what did you get from last night? unfortunately, i had to go to bed, again, as you know. >> that's okay. we're going to cover what he said, as you know. i think one of the big take aways is that he pushed job as the top agenda item. he didn't stop there, though.
zakaria coming to you from davos, switzerland. you know, davos is often caricatured but i find it u useful. wherever could you meet leaders from all over the world in an informal setting for over four days. that has been the case for the two extraordinary interviews i have for you. the first is with larry summers the head of the economic council at the white house and the second is foreign minister mottaki. i remembered back a year ago in davos when the entire financial world was in a state of shock. the global financial system was crippled and the global economy was in its most significant contraction in 50 years and gloom was pervasive. this year, the financial system has stabilized, almost every major economy in the world is beginning to grow again and few political and social upheavals as a consequence of the crash of 2008. so, that should be reason enough to cheer loudly, right? but the mood at davos is unease. there is a general perception that we're entering a new world. the advance industrial world has staved off catastrophe but at great costs. debt deficits. the old certainties ab
. >>> i'm fareed zakaria. coming from davos, switzerland. site of the annual world economic forum. the mother of all conferences. d where else could you meet leaders from all over the world and informal setting for four days? that's been the case for the xro extraordinary interviews i have this week. larry summers. the second is with one of the most powerful men in iran. foreign minister motaki. i remembered back a year ago in davos when the entire financial world was in a state of shock. globe am finance am system had been crippled and economy in the most significant contraction in 50 years. this year, the financial system stabilized, almost every major economy in the world is beginning to grow again. there have been few political and social upheavals as a consequence of the crash of 2008. so that should be reason enough to cheer loudly, right? but the mood at davos is unease. a general perception that we are entering a new world. the advanced industrial world stafed off catastrophe but at great cost, deficits. the old certainties about free markets and free trade are under assau
the meltdown. the wor econoc forum opens in davos andalls for fundental retnking of capitalis no ss. hello to u. could the afghan president's plan to offer talksnd money to peace with the tliban undermine the environment wi the afghaneople? homage kzai has been defending himself from the accusation. -- homage karzai. britain's prime minister swered questions from afghan d british studts and defended his deoyment of british troops. our world om paris our wod affairs correspondent was there. >>president karzai arrives londonnowing he has repair ork to do on hiswn reputation and that of his vernment. last year's afghan elections were widelyseen as flawed by widespread corruption. at the same time, mo troops than ever were being killeor injured in the war against the taliban. was it, one studt asked, worth e price being paid? british soiers have been fighting in afghanistan for nine years. practically ha my life. ha we en any cnge in the situation over ere? will we get better? or will my children ask me the same question? >> i tnk the first thing to say i we had to takection in 2001. after the al-
>> rose: we are are in davo, swrits land for a conversation with larry summers, a principal economic advisor to the president but first the president himself and a dialogue head with house republicans in baltimore. >> if we can't break free from partisan gridlock f we can't move past the politics of no, if resistence supplants constructive debate, i still have to meet my responsibilities as president. i've got to act for the greater good, because that too is a commitment that i have made. and that too is why the american people sent me to washington to do. >> rose: and a conversation with larry summers about regulatory reform, about the american economy, and about the new global order. >> if you look at total job creation over the last decade, we created essentially no jobs. if you look at the total performance of the market, we created essentially no returns. if you look at the total performance of income, we produced very little real income growth for families. we as a country can do much better than that. the basic objective of the president's policys is to unlock our pot
in davos. take a listen. >> the notion that people including complaining about the deficit and object to a fairly small tax is mind boggling. the banks were the recipients of so much explicit and implicit help that for them to complain when we're trying to reduce the deficit in a small way with a small tax on them really is outrageous. >> frank does believe ultimately that the tax will become law and go into effect. what i'm hearing when it comes to regulation, though, and whatever may or may not transpire as a result of what obama proposed last week in a final bill if one does come out of congress, what i'm hearing is that regardless, the fed is really taking a stringent tone when it comes to capital charges against various parts of banks businesses, particularly ones that are considered to be extraordinarily risky. and so even if we don't get regulatory reform we are certainly going to end up with a market place in which you're going to have to have a lot more capital against certain businesses that may in fact have the ultimate effect of making those businesses a lot less profitabl
, rick santelli. talk about europe. ben bernanke's europe, jean claude pritchett sat down in davos. listen to what he had to say about the bank proposal. >> your thoughts first off on the president's proposal, president obama's proposals about splitting capital markets business from pure vanilla lending. where are you on that? >> well, i have the sentiment that it is something that we should work on. it is rough working on and i said already that it is interesting. that being said it has to be processed through the international governance that we have created. >> said only like a central banker could say. trippet's comments coming on day ben bernanke's confirmation is today. bring in jj burns from jj burns and company. good to see you. what do you think is driving the selloff? rick santelli says it is the s & p, the uk banking system isn't as stable as it used to be. others saying france came out not going to help greece. why the selloff today? >> i think that there is just a confluence of events setting up for very ominous signals in the market. the technical side of things, mich
appreciate it. >> better late than never. sorry. >>> print media is alive and well. at least it is in davos, switzerland. >> you're watching cnbc. >>> shares of walmart on the move. adding the largest retailer to the buy list. goldman analysts expect earnings to get a boost from improved margins and expense control right now. walmart is trading up by about 2 1/3%. >> let's get a check on energy prices. hello, sharon. >> we're looking at oil prices up just about 20 cents right now. right around that moving average. this is the third session in a row that we have traded right around this level. not a lot of action here despite the fact that we did get that very positive gdp data. we're looking at the strength in the dollar. the dollar is not really the main factor here affecting oil prices. keep in mind oil has slipped about 7% so far this month, after hitting that high on january 11th around $84 a barrel. a lot of fundamental factors, and supplies here weighing on oil prices. when you look at what has happened to the dollar, particularly the euro breaking below the 139 level, a lot of people
: we're in davo switzerland, this evening at e world economic forum. the world's top business and politil leaders gather hereach year to discuss thmost pressing global issues. the economic crisis s again at t top of the agenda. and there were numerous opinions about the economic recovery. regulato refm for the nancial sector in the united states and around the world also stimulated sessions, president ama sent one of his topconomic advisors larry summers, chairman of e council of economic aisors, t office that codinates economic policy r the presidt. he previously served as treasury secretary dure t clinton adnistration as well as presiden of harvard university. interviewed him early this evening athe conference center but before we show you that inteiew, president obamaet house repuicans today in baimore. heid an intesting exchange with them d here is aook at some of the dialog. >> if u were to listen to the debate, and frankly how some of yo went after this bill,ou would thi that this thing was some bolshevi plot. i means tt's how you guys... that's how you guys presented it
things, and we're talking about the world economic forum in davos, switzerland. we'll come back after the break and richard quest is standing by and he's looking through the agenda in the world economic forum, and he'll tell us some of the interesting things heun it's n uffyyou mit in wei wei knock heartburn... into a whole new zip code. 24/7. satisfaction guaranteed. thataboy. [ male announcer ] prilosec otc. heartburn gone. power on. prilosec otc. dominates heartburn. 24/7. including the eight hours you spend with your eyes closed. prilosec otc. heartburn gone. power on. someday, cars will be engineered ing on pte to comnts. er hs hybrid. someday, cars will be engineered only from lexus. >>> okay. a big, important meeting is happening on the other side of the world, in switzerland, in davos, switzerland, you probably heard about it. the world economic forum. it gets under way tomorrow. richard quest is on the ground today, because who would want to avoid sitting on the mountains in switzerland. he's looking at the agenda that's what we do, we look at the agenda. and in the case of d
. >> pleasure. >> one of the major issues that's come up in davos is haiti. can i ask you what you think is the best route to reconstruction here? >> i think what's happening in davos is clearly people understand that we're still in the emergency phase of what's happening in haiti. and there's still a desperate need to get food to people, get water, the shortage of tents. all of these things people aren't very aware of. but there is a sense here that as we start to build back, we need to build back better. we've got to make sure that as we start the reconstruction of haiti and that we avoid the mistakes of the past that we give these people a better future. i also think there's quite a lot of work here being done on learning the lessons of how we respond to emergencies like this, not least because in a world of climate change and growing populations, there will tragically be other events like this where we need to make sure the international response is as good as it can be. >> so do you think, then, perhaps haiti may be sort of a new paradigm, a new way to rethink how to approach global
banks in the spotlight. maria bartiromo talks about davos. and we'll hear from bank of america's chief executive moynihan. >> worries about british banks. what does this crisis of confidence have? how do we break the cycle of fear. >> toyota shares declined for the sixth straight day on the fallout, one of the biggest car recalls in history. has this automaker gotten too big, too fast. we're going to discuss that. >> before we do that, though, let's get to the market action. scott wapner kicks it off at the new york stock exchange. hugging the flat line, scott. >> there's a couple of trends continuing. the reason why this move to the upside has all but evaporated, number one, it's selling into the strength. number two, it's selling into strong technology earnings. microsoft had good earnings, yet that stock is lower. those are two troubling trends, if you will, if you're a bull, that continue to plague this market. take a look at the dollar today. the dollar index is another story. the dollar's higher, at the highest level since august. and just about at the highs of the morning right
will vote against a second term. >>> maria is getting ready to kick off our coverage of davos, switzerland. that begins tomorrow. she is in davos with a preview of what we can expect. >> reporter: thanks so much. i'm coming to you from one of the the highest peaks in davos, switzerland, ahead of the world economic forum which officially kicks off tomorrow morning. this is called jacob's horn. we have a heated up agenda to tell you about. we are going to examine the global economic recovery around the world and tell you where the hot spots are in terms of leadership and growth and where the weak spots are in terms of laggards around the world. we want to look ahead and possibly examine where are the red flags that could be forming the next crisis. that is the focus of the first cnbc debate tomorrow morning which i will be moderating called back to the future. where are the red flags that perhaps could be the telltale signs for the next crisis the world will face. one of the issues? a possibility of a sovereign debt crisis. the world economic forum predicted there is a 20% chance we will see
liesman coming up as well. >> meanwhile, maria bartiromo is in davos, switzerland, for the world economic forum. she'll be talking to some of the most influential economic minds in the world including blackstone chairman and ceo, steve schwarzman but first let's take a look at where the major indices are trading and it has been another poor day today. apart from yesterday, of course typically in this last hour, we have seen selling come in right in this final 60 minutes of trade. for the most the dow jones industrial average is down. at the nasdaq we've there a bad day for technology today on qualcomm, on motorola, disappointment on apple and i just want to talk about the levels on the s&p. importantly today we broke obvious support at 1085. we based that -- that was the base that we had, established over six weeks at the end of last year. we gap lower to 1078 and now coming back up to that critical level. so just bear in mind that that's essentially how things stand at the moment. let's get to our team covering all of these markets that cnbc will kick off with bob pisani as ever on the f
's president let the silva canceled his trip to the world economic forum in davos after falling ill to high blood pressure -- lula da silva. his doctor says despite his hospital treatment is president is in a good state of mind. >> barack obama says getting america back to work as a top priority for 2010. in his first state of the union address he accepted that the recession meant many americans are hurting and his election pledge that change has come to america wasn't happening quickly enough. a washington correspondent listened to the speech. >> madam speaker, the president of the united states. >> the first african american receiving the fanfare of a state of the union night, a history maker but with a speech luted in the here and now. 50 million americans out of work, record budget deficit -- 15 million americans out of work. >> i have never been more hopeful about america's future that i am tonight. our union is strong. we do not give up. we did not quit. >> almost everything he said came back to the e economy. from credit to small businesses funded by loans repaid by wall street, to i
right. davos, the world economic foreyum in switzerland, a fancy gathering of the richest and most powerful in the world. so surprise, surprise, cnn's richard quest is on the case. when we come back, we're going to visit with richard and find out what is going on there, and whether anything being discussed there can actually change the way things are for us back home. we'll be right back. to answer 10 questions you help our community get what it needs for the next, oh, 10 years. we can't move forward until you mail it back. 2010 census >>> you've heard about it before. the world economic forum. it's in davos, switzerland, takes place in january every year. let's tell you a little bit about it. an independent, nonprofit, based in switzerland. they have been meeting for 40 years, some say because it's such a hard place to get to, it doesn't lend itself to a whole bunch of spectators. it's a ski resort. 2,500 world leaders, policy makers, academics, movie stars and singers, everybody who wants to change the world gets together and discuss ways to change social development and economic
that are in davos figuring out the future of the world. sounds important. no one paying tanks except, of course, richard quest. richard, i have to ask you, except for you, has davos lost its relevance? >> reporter: oh, chris, for goodness sake. no, no, and no again. look, you just jump on the old populist bandwagon that says davos is a waste of a time. but the reality is that it does give a forum that allows decisionmakers, government, ceos, bankers, to discuss the great issues that they have to put forward. now, i will give you one example. let's just take today. today i have spoken to president lee of south korea. i have met darling the chancellor of the uk. the greek prime minister. i still got to see her image tri the queen. i'm just having two, three-minute conversation was them. but they are all meeting each other. they are mingling amongst the snowflakes. no, it is not a waste of time. >> i wish when they were all over the past ten years getting together and skiing and having their cappuccinos they would have figured this was going to happen in the first place. all right. richard quest,
bartiromo's in davos, switzerland, for the economic world forum where she'll be talking to some of the most influential economic miechbtds world including george soros and bob diamond. houtmajor indices are following following the fed's 9-1 vote to keeping the interest rate's unchanged, that happened in the past hour. and right now they're up 13 points, it's better than 0.1%. take a look at how the nasdaq is trading right now, it's also to the plus side but by about half of a percentage point and the s&p 500 right now is also trading higher by better than a .25% team kicking off with bob pisani down here on the floor. >> well, we've got mr. geithner be we've got steve jobs, we've got fomc and mr. bernanke and the whole crew. the key meeting of the fomc because we rallied about 50 points in the last few minutes that often happens in the fomc meetings, you get a delayed effect here. but a slight upgrade to the economic outlook in a number of these statements. housing was showing some signs of improvement, a little bit of an upgrade here. talked about business spending in equipment had previou
of heads of state in government that are in davos figuring out future of the world. sounds important, so why is no one paying attention except our good friend richard quest in the swiss alps there for us. richard, except for you, has davos lost its relevance? >> oh, chris, for goodness sake. no, and no again. look, yes, that's right. you jump on the old populous bandwagon that says davos is a waste of time up a mountain. the reality is that it does give a forum that allows decision makers, government, ceos, bankers to discuss the great issues they've got to put forward. i'll give you one example. let's just take today. today i have spoken to president li of south korea, the president of iceland, the greek prime minister. i just had a chat with mark dekent of coca-cola and got to see her majesty between rainier. they are all meeting amongst each other and mingling among the snow flakes. no, it's not a waste of time. >> i just wish when they were skiing they would figure out what's going to happen in the first place. richard quest in the mountains. >> come on, come on, get your other clich
. a world away is the caribbean devastation. inside the davos center, a major fund-raising drive spearheaded by none other than bill clinton. >> right now, we need to figure out how to get through the week. i want them to knonot worry about whether they're going to eat. if anyone here who knows where i can get some not big trucks, no semis, pickup trucks or several, i need 100 yesterday. >> not just trucks but food is needed and cash. an appeal for the world's richest entrepreneurs to get involved in reblding haiti's collapsed society. out of this terrible tragedy could emerge benefit for everyone. >> this is an opportunity to re- imagine the future for the haitian people to build the country they want to become instead of rebuilding what they used to be. i invite you to be a part of that. >> you can see here why bill clinton has a reputation as a formidable fund-raiser. his message could not have been more blunt. there were given a form to fill in to say how they can give aid to haiti. >> this is where a lot of the people are with the expertise and capacity and the money to make a differenc
talked about in davos right now, this idea of the united states and china forng this new bilar order, it's not in accordith their approach. i think they're playing a long-term game, where they are building up the potical capital anthey're notager to acce the rdens of responsibility rightow. >>et's get into some of the points of fricti in the u./china relationship. one source of disagreement is the u.s. arm saleso taiwan. why e the cnese so upset abt thi and why is theunited states ing to go ahead with it? >> chinese nsider taiwan to be a part of china. and we, the united states, agreed tha we would slowly wind down our as ses to taiwan, givethe situation in the region as it becam more peaceful, w would slowly wd down. we haven't de that, cause we don't believe the situation has become mor peaceful. the chinese connue to threaten taiwan by 1,000 short range missiles that are targeted at taiwan. >> do you think this could dera u.schina relatis in the ture? >> from the chise perspective, it always theost sentive and explosive. right now there's a lot of positive trends in terms of relaons.
resort for a major conference. it's called the world economic forum and gets under way in davos, switzerland, tomorrow. this year one of the themes is rebuilding trust in financial institutions. but ironically executives from two companies that took t.a.r.p. money are flying there in corporate jets. that's right. flying first class on commercial aircraft wasn't good enough even though it would have saved hundreds of thousands of dollars. joining us now is the senior editor with "reason" magazine who says there's nothing wrong with them using corporate jets. well, let's start with you, katherine. they could have flown commercial and you said there's nothing wrong with flying corporate jets. explain why. >> i get it that we all want to see a ceo of a bank standing there in his socks waiting for a grandmother to find liquids in her carry-on but the question is, is that going to help the american taxpayer get back the hundreds of billions of dollars that we gave to them? if we don't like the sight of corporate bankers climbing into private jets paid for with taxpayer money we could
, of course, for you. >>> got to tell you, a lot of the world's economic elite in davos, switzerland, right now. what are they doing? we're going to check in with our cnnmoney team. d >>> what's ahead for the global economy? that's what a lot of smart people are trying to figure out right now in davos, switzerland. the world economic forum now under way there. cnnmoney.com's poppy harlow, got the ticket to ride. she has the latest from davos. and, poppy, what's hot there in what looks to be pretty cold davos? >> reporter: well, tony, we're a year out sort of what is deemed the depths of the financial crisis. the theme here in davos at this world economic forum is rebuild, redesign and rethink, and what they're talking about the entire global economy, the president of france, nicolas sarkozy, just wrapping up his statements here today. he came on with a bang in his opening statement, saying, we have to work together, because all of us formed this crisis. overleveraged banks playing with money of others as if it was their own. we will be irresponsible if we leave this world t
. becky and carl are off for the day. i just talked to becky. she's in davos in switzerland. carl is sotu'ing. for those of you that don't know, that's state of the unioning. also, pretty in pink today, gary ko minski is joining us today. steve, when you become an actual -- not someone commenting on markets, but involved in the markets, you get these things things. >> i noticed you don't have them. >> no, i don't. >> anyway, we'll be watching shares of apple today, the tech giant that in the past i have called a gadgetmaker. i was so stupid and so uninformed. unbelievab unbelievable. did you see the rise in earnings? 50% -- >> all i had to do was go to best buy and the place is empty except for the place where they're buying the apples. steve jobs, we were having a joke yesterday, the guy who saved christmas or stole christmas. >> from somebody else. >> from efbls, yeah. >> do you have a notebook? >> we have only maces now. everybody has a ipod. >> there's no training -- i mean, i can't work it, but my 7-year-old immediately knew how to do everything on this notebook. now this tablet is c
flight for richard quest, which is why he's been in davos since the world economic forum started, but he's there now that the thing has got under way. and he's got news to report for us. richard, now that they've got you working, what can you tell u us? >> reporter: you can be so cruel, mr. velshi, or perhaps it's jealously. president nicolas sarkozy has opened formally the world economic forum. now, remember, the agenda item is really about how to restructure the global economy, essentially especially the banks. sarkozy left no one in any doubt. it was a brutal, frank, honest speech. he talked about needing deep, profound change. he talked about what role for capitalism in the future. he asked, what do we want to do with capitalism? the change of regulation, the change of accounting rules. frankly, he came right into the heart of capitalism, and then attacked it! >> translator: without state intervention, everything would have imploded. total collapse. this is not a matter of liberalism or state intervention or socialism or being from the left or from the right. it is a fact. and not to
live from davo after he rings the opening bell. and keep in mind, we'd like you to vote. will timothy geithner be in his job one year from now? tdd# 1-800-345-2550 investors got lost in the shuffle. tdd# 1-800-345-2550 investment firms forgot whose money it is. tdd# 1-800-345-2550 enough is enough. tdd# 1-800-345-2550 it's time investors got what they deserve. tdd# 1-800-345-2550 real help that's there when you need it. tdd# 1-800-345-2550 pricing that leaves you with something to actually invest. tdd# 1-800-345-2550 at schwab, we offer a lot more help for a lot less money. tdd# 1-800-345-2550 because at schwab... tdd# 1-800-345-2550 investors rule. tdd# 1-800-345-2550 are you ready to rule? right now 1.2 million people are on sprint mobile broadband. 31 are streaming a sales conference from the road. 154 are tracking shipments on a train. 33 are iming on a ferry. and 1300 are secretly checking email on vacation. that's happening now. america's most dependable 3g network. bringing you the first and only wireless 4g network. right now get a free 3g/4g device for your laptop. sprint. th
to davos. >> that would be great. "the new york times," what mika is talking about is mayor bloomberg changed his position on 9/11. can we continue our show now? is that okay? >> yes. >> i don't ever interrupt anybody. >> i know. i shouldn't speak. >> you need to learn from me. >> i need to know my place. >> this is so exciting. i'm so glad that the private schools of new york city are sort of up and up. it's winter break. they are having a snow day and andrew got to go outside sledding. andrew ross sorkin, author of "too big to fail," thank you for being with us. you say barack obama and massachusetts are the topics of conversation over there. tell us about it. >> i got to tell you, the credibility gap that we've been talking about in america over health care, over jobs, the economy, et cetera. i think it has moved over here and there is a gap that's widening even more. there are questions about really where the u.s. is, vis-a-vie, everybody else, and most importantly there, is a question about capitalism. that is the biggest question we get over and over again. i am with a ceo of an
voted against a second term. for more information, visit c- span -- c-span.org. in davos, former president bill clinton asked businesses to increase humanitarian aid to he. a senate hearing on relief efforts in haiti. later, a couple of news conferences from the house of representatives. wil. . [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2010] >> president clinton's remarks are followed by with those of world leaders. this is about 45 minutes, from davos, switzerland. >> mr. president, ladies and gentlemen, your excellencies we all welcome you to this very special, very important, crucial session on haiti. all of us in this room remain deeply saddened by the scale and scope that has ravaged haiti. the scope of the destruction. disasters of this magnitude serve as a harsh reminder of how fragile life can sometimes be. but it is also during these moments that we are reminded of the common humanity which we all share. we decided to convene this special session immediately following the earthquake as the scale and scope b
'll be coming to you from the world economic forum in davos, switzerland. snowy switzerland. each week keep it here where wall street meets main street. have a great week, everybody. have a great week, everybody. i'll see you again next weekend. the images from haiti are heart-breaking-- homes, hospitals, and schools destroyed; families searching for loved ones; parents trying to feed their children. but we can all do something. we can help the american red cross as it delivers the food, water, and medicine that can save lives. donate $10 by texting "haiti" to 9-0-9-9-9. visit redcross.org or call 1-800-red-cross. thanks for your help.
in davos, switzerland. i just sat down with jean-claude trichet, he said a couple headlines, momentarily, he said that any laws or changes to the banks system must happened on a coordinated international level. he said authorities have under the end of 2012 to actually put something on the table that will be sustained and consistent. number two, when i asked him about asset bubbles, he said part of the reason we are seeing valuations rise is things had gotten so low, he would not name the asset bubbles, as you might imagine, and would not tell me what he was thinking about. on economic growth, he said we are in recovery, there are weak spots in europe, and he is expecting greece to get that deficit down to un3% of greece's gdp. as you know right now greece is showing a deficit of 13% of the country's gdp. it's promising to get that deficit down to the targets rate of below 3% by 2012. he says he is expecting that to happen and believes that in fact the country will be able to do that. let me bring in right now steve ellis, worldwide managing director of bain & company. good to have you o
and what's clear here from davos to washington to wall street, this debates going to continue. i want to quote tom friedman here, he said when our government is this deeply involved in propping up our economy, and the economy is this fragile, politics as usual will kill us. something to keep on eye on in this debate all the way from here to where you're sitting. kyra. >> all right, poppy harlow, appreciate it. and a post-speech bump for the president. here's our new cnn opinion research poll. we talked to 400 people who watched the speech and they're showing more confidence in the president's ideas. 71% now say his policies are moving the country in the right direction. only 53% thought that right before the speech. >>> well, beware, the wicked weather is looming, right, jacqui? >> yeah, it's starting to accumulate already in oklahoma city. the latest on the ice storm and its track and we've got flooding too. in fact, a high-water rescue just took place in odessa, texas. we'll tell you more about that coming up. >>> and a love song to haiti. yep, a heart-felt message from kirk frankli
's over now in europe? george soros. this is fantastic! he's many davos pitching for it now. soros is probably the only investor who is still on board with obama's bank plan. why? let's follow the circle of influence. the president, our buddy phil just serving you, soros, soros has the tide foundation. he heavily donates to this. it's great. one of the biggest projects in the tide foundation he gives tons of money to is the apollo alliance. the apollo alliance, remember him? creating green jobs. that's what he did. we got jeff jones here. he's -- well, he was part of the weather underground. i like the picture because in case you don't -- i mean, say something bad happens you can always check glasses for his fingerprints. this was taken, you know, when he was blowing things up with this guy in the '60s. okay. so wait a minute. hold it, there is something missing. it remember what it is. this is so weird! who is the chairman of the apollo alliance? this guy! he just happens to be the chairman of the financial crisis inquiry commission. that's getting to the bottom of the banking mes
that as soon as -- in 2008 in davos i said, we needed a global stimulus of 2% and the reason we asked for the stimulus is tleesz i said before because we basically they're only ones working on the rights thing today which is linkages between real and financial economy. so i agree with you, forecasts are very often not that right and when they are wrong, we say what i said, at the beginning of these remarks, saying, the recovery goes stronger and sooner than expected which means that we plan recovery not that strong, which means we were wrong, so, i say it in a nice way but it is true. on the other hand, i do believe that the exercise i was describing, previously, the framework in the g-20 will be very helpful for our forecasts. because the advantage of a system like the imf now as wall ready existing which is we make our forecasts country by country and try to make it consistent of one part of the world to the other one and there's a lot of alterations between the country and the imf, because at the end of the day exports from the china to the u.s. has to be equal to the imports from
that happens. the ceo of toyota, interesting, yesterday, he finally showed up on camera, in davos, switzerland. and said he was very sorry about all this. has toyota handled this well? >> i don't think people at toyota would say they've handled it well. it has turned into a bit of a public relations disaster. but keep in mind, they don't have any experience, if any experience, with the big, high-profile recalls. this has been the domain of the domestic automakers, who have the big volume cars. toyota is getting a taste of what it feels like to be at or near the number one spot. and they're learning as they go. >> and speaking of the domestic automakers, do you think they'll benefit from all this? gm and ford have offered incentives to toyota drivers. >> they certainly will. as you suggest, the deals will attract some people. and it will chip away at the big reason people buy toyotas. quality and reliability. those are being undermined by this. gm, ford and chrysler can probably make some headway. >> jayne o'donnell, thanks so much. >>> new government figures show the grose domestic product gre
at the sunglasses. >> what a chanel commercial. i'm serious. >> the world economic forum in davos, with maria bartiromo. >> and then the must-read opinion pages. with jonathan capehart. you're watching "morning joe," brewed by starbucks. somewhere in america... there's a home by the sea powered by the wind on the plains. there's a hospital where technology has a healing touch. there's a factory giving old industries new life. and there's a train that got a whole city moving again. somewhere in america, the toughest questions are answered every day. because somewhere in america, more than sixty thousand people spend every day answering them. siemens. answers. tdd# 1-800-345-2550 to help with my investments. tdd# 1-800-345-2550 so where's that help when i need it? tdd# 1-800-345-2550 if i could change one thing... tdd# 1-800-345-2550 we'd all get a ton of great advice tdd# 1-800-345-2550 just for being a client. tdd# 1-800-345-2550 i mean, shouldn't i be able to talk about my money tdd# 1-800-345-2550 without it costing me a fortune? tdd# 1-800-345-2550 if i had my way, investment firms would b
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